"White House Commits $5 Billion for Semiconductor Research and Development"

The Biden-Harris Administration plans to invest over $5 billion in semiconductor-related research, development, and workforce needs, including the National Semiconductor Technology Center (NSTC), as part of the CHIPS and Science Act and the Investing in America agenda. These investments aim to advance U.S. leadership in semiconductor R&D, reduce time and cost of commercializing new technologies, bolster national security, and support workers in securing semiconductor jobs. The NSTC will serve as a public-private consortium to accelerate innovation, lower barriers to participation in semiconductor R&D, and address the need for a skilled and diverse semiconductor workforce. Additionally, the Administration plans to invest in workforce efforts and other key R&D needs, such as semiconductor manufacturing and advanced packaging.